Across European private markets, valuation outcomes are increasingly being driven by company-specific fundamentals rather than broad market trends, as access to capital, financing conditions, and credit quality continue to diverge across borrowers.
Davis Kelliher is part of the portfolio valuation group, specializing in valuations of privately held debt and equity securities, and business enterprises for tax and…
Earnings remain strong, but investors are becoming increasingly selective. As valuation multiples moderate and interest rates stay higher for longer, execution, profitability, and business quality are driving value creation more than multiple expansion.
Private credit remains a story of divergence: while refinancing pressure and restructuring activity continue to build among older loan vintages, improving deal activity and substantial private capital dry powder are creating renewed momentum across the market.
U.S. markets are increasingly balancing resilient economic fundamentals against renewed inflation pressures, rising interest rates, and growing geopolitical uncertainty.
Explore best practices for valuing carried interest for tax reporting, estate planning, financial reporting, transactions, and compensation arrangements.
SEC oversight and FASB activity are raising expectations for private market transparency, valuation governance, liquidity disclosure, and conflict management.
Want to dominate your fantasy football championship? Take a page out of a valuation professional’s playbook.
Robert Cheloc is part of the portfolio valuation group, specializing in business enterprise and securities valuation for private equity funds, private credit funds, interval funds,…
The same structural features that support capital efficiency also create differentiated valuation treatment for the rated debt and equity interests.
European private markets stabilized during the second quarter of 2026, but investor selectivity continues to increase as lenders and sponsors navigate AI disruption, geopolitical uncertainty, and a challenging exit environment.
Equity markets in 2026 remain active, but outcomes are increasingly shaped by transaction scale, sector selection, and evolving capital market conditions.
Private markets are stabilizing in 2026, but outcomes are increasingly driven by selectivity, credit quality, and sector-specific dynamics.
Mr. Caligiuri is a part of VRC’s portfolio valuation practice. His experience includes a significant focus on the valuation of illiquid securities including privately-held debt…
Mid-year update highlights the most relevant trends shaping M&A, Private Equity, and Private Credit
Semi-liquid evergreen funds require faster valuation timelines and disciplined processes to ensure marks remain supportable as new information emerges.
Insights from the SEC roundtable on retail access to private markets, focusing on valuation governance, Rule 2a-5 oversight, and NAV considerations.
Explore the key differences between 3(c)(1) and 3(c)(7) private fund exemptions, including investor eligibility, fund limits, and implications for fund sponsors.
Daily valuations are becoming essential as fund structures evolve and investors demand greater transparency.
Mr. Brandolini is a member of the portfolio valuation group specializing in valuations of privately-held debt securities, equity securities, and business enterprises for tax and…
Mr. Greenfield is a member of the portfolio valuation group. He performs valuation analyses for institutional clients including hedge funds, private equity firms, and business…
As private markets grow and valuation frequency increases, disciplined policies, independent governance, and data-anchored analyses are essential to producing consistent, defensible marks.
Carve-outs have become a prominent feature of the deal landscape, with $23.72 billion in private equity carve-outs across 145 deals in the first half of 2024, presenting unique valuation challenges for both buyers and sellers.
PE firms are turning to VRC to bring a new level of transparency and defensibility to their valuation processes.
Combined LR-LPR transactions are revolutionizing the private equity industry, providing a creative solution for fund sponsors to return capital to Limited Partners.
Mr. Lewis has extensive experience providing valuation services to private equity firms and privately held companies. He specializes in fairness and solvency opinions, complex security…
Explosive growth in private credit markets is outpacing technology and valuation processes, creating operational challenges, and driving a need for innovative solutions and AI integration to meet evolving fund structures and increasing data demands.
Daniel Turi is a part of the portfolio valuation group specializing in valuations of privately held debt and equity securities, and business enterprises for tax…
Ms. Keller specializes in the valuation of illiquid securities, including privately-held equity securities, fixed income securities, various derivatives and structured products, for hedge funds, private…
Mr. Gottfried specializes in business enterprise, credit/debt instruments, equity, intangible asset and portfolio valuations. He has over 15 years of experience in planning, facilitating and…
Mr. Colligan is part of the portfolio valuation group specializing in valuations of privately-held debt securities, equity securities, and business enterprises for tax and financial reporting…
Related-party transactions between PE funds and their portfolio companies are fraught with the potential to create issues between limited partners. Fairness opinions can forestall such conflicts.
Sarit Rapport is part of the portfolio valuation group. She has over 20 years of valuation experience performing business valuations, valuations of complex securities, valuations…
Ms. Lee specializes in business enterprise valuations, purchase price allocations, goodwill impairment testing, and securities valuations for financial and reporting and tax purposes. Ms. Lee…
Mr. Paraboschi is a part of the portfolio valuation group specializing in valuations of complex and structured investments, including CLO securities, leveraged lending funds, middle…
With over 30 years of experience in valuation, corporate finance and mergers and acquisitions, Steve Schuetz is a Senior Advisor to the firm. Mr. Schuetz…
Caroline Puiggali specializes in the valuation of equity interests, business enterprises, and portfolios of privately-held securities for financial reporting purposes, as well as financial opinions,…
Mr. Meyers co-leads the San Francisco and Los Angeles offices of VRC. He has nearly 30 years of financial and valuation advisory experience, which includes…
Mr. Johnson focuses on serving private equity clients using a comprehensive strategy designed to meet fund and portfolio company valuation needs throughout the investment lifecycle.…
Paul Hultgren is responsible for VRC’s business development in Texas and Mid-south states. He has significant experience providing corporate advisory services to private equity firms…
Mr. Crockett is focused on serving private equity clients using our comprehensive strategy designed to meet fund and portfolio company valuation needs throughout the investment…
John Bintz started in the financial services industry in Chicago in 1987. He has specific financial service experience related to public finance, private equity, investment…
Mr. Balynsky is a managing director in VRC's portfolio valuation group with nearly 20 years of valuation experience. He specializes in valuations of portfolios of…
A shareholder of a closely-held hedge fund was not receiving the appropriate level of compensation per agreement with the controlling interest shareholder.
